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Deal Spotlight

Elmo Homes Co-op Solar Installation

$ 0
Annual cost savings
0 %
Projected energy savings
0 %
Projected GHG savings

The Building: Elmo Homes Co-op

Building type

Building size
1 buildings
16,896 square feet
24 units

Year built

Brooklyn, NY

Project type
Solar PV

NYCEEC loan product

10 years

Closing date
November 2016

The Project

Elmo Homes is a self-managed 24-unit co-op building. The owners wanted to purchase and install rooftop solar to generate electricity onsite and lower greenhouse gas emissions. Project developer, Zero Carbon, partnered with the NYCEEC to create an integrated technology and finance solution, including a 30.7 kW photovoltaic system and a new metering system capable of aggregating usage data from each housing unit, all with no upfront cost to the co-op association.

Total project cost






Annual savings


Simple payback period

16.75 years

The Results

Zero Carbon projects that the system will produce 94% of the building’s typical annual electricity use. Net metering will allow the building to sell back to the grid the excess power it generates during the day. The result will be annual cost savings of $10,992, more than enough to cover the payments during the period of the loan, and to benefit the co-op owners once the loan is paid off.